Biotech Values

[mcbio]

These kinds of presentations don’t signal anything in particular about the clinical program, IMO. The principal investigators generally expect to present their data at a medical conference whether or not the data are consequential from a business standpoint.

Let me flip my question around a bit. What do you think of companies who are normally quite active at investor conferences but who suddenly become much less active? Is this a bearish signal, for some reason a bullish signal, or, I presume, essentially no signal? I ask because ACHN has become much less active at investor conferences of late. Their last conference was in September at Stifel (I somehow missed that one and it's now expired on their Web site). Also, as you pointed out in #msg-56011103, ACHN didn't hold a 3Q10 CC, which was unusual for them. (We'll see if they hold a 4Q10 CC.) I know you said you were joking before about them having raised the cash and not needing to do a CC, but could this seriously be the reason why they've gone fairly quiet of late? Seems like everybody is presenting at JPM next week, but ACHN is not presenting there either.